I heard a story yesterday that disturbed me. Someone I know was out Christmas shopping, and rode by one of those payday loan institutions. The line apparently went down the sidewalk – where an estimated 40-50 people stood in line. Hearing the story I quickly got a visual of this, and it broke my heart.
These establishments are nothing more than glorified loan sharks. Once a person ‘enrolls’ in one of these ‘loans’, they get locked in and basically have to pay the establishment each week just in order to be able to keep the remainder of their check. It’s a vicious circle, and is very difficult to get out of.
It’s disparaging to hear that, in this day and time, this is what a good many people are having to resort to in order to buy their kids or families Christmas. Something’s gotta give in this economy.